Huge retail move to accept Virtual currencies
Since late 2013, Bitcoin has rarely been off the World's Front Pages, it seems that everyone has an opinion and many of them are far from positive. The bankruptcy of Mt gox in Tokyo, which may, or as it turns out, may not, have lost up to $400 Million. The Silk Road arrests, and charges leveled that bitcoins were allegedly being used for secret trades in articles such as drugs and weapons. Even throughout the dark days of opinion pieces, citing imminent disaster and collapse, published by, previously unheard of, economists and journalists; there have been significant positives. During the....
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Since the realm of virtual currencies is a decentralized industry, there is no single monetary authority or government agency implementing bitcoin regulation these days. In the United States, state governments are in charge of coming up with the necessary legislation to oversee the activity of bitcoin companies and enforcing the rules. For the Uniform Law Commission (ULC), there is a need for a unified bitcoin regulation law, as this could help strike the balance between consumer protection and encouraging innovation. The group recently released a discussion-only draft of their proposed....
As people move away from slips of paper to digital forms of money, there's a possibility the concept of the cash donation might decline. But that's not the real reason Father Adaly Rosado Jr. from the Church of St. John the Evangelist in Goshen, NY decided to put a virtual currencies donation button on the parish's website. "I put it up a year ago. I was just curious to see what would happen," Father Rosado said. Unfortunately, only 0.488 BTC have been donated so far, which is around $60 at recent CoinDesk BPI rates. The church has over 2,900 registered parishioners, though, so if he can....
The head of Russia's largest bank is said to have praised virtual currencies, suggesting that the bank may even enter the market if demand continues. Online reports suggest that Sberbank CEO Herman Gref was bullish on virtual currencies during a discussion with journalists in Moscow this week. If there is demand for a virtual currency, the bank could move in that direction, he said. Gref is also said to have singled out Yandex Money as a first step in the direction of a virtual currency. While not itself classified as money, Yandex is an Internet payment system popular in Russia, and is....
In an effort to warn the public about the risks associated with virtual currencies, USA.gov published a list of Five Things You Should Know About Virtual Currencies. The article aims to simplify what virtual currencies are all about and why people should think about the risks involved before choosing to invest in it. It defines virtual currencies as a digital form of money that can be used for purchasing goods and services typically online and can also be exchanged for other currencies such as the U. S. dollar. Risks of Virtual Currencies. The article also warned that these types of....
Senator Juan Sartori of Uruguay has introduced a bill to enable businesses to accept crypto as payment and legislate their use in the South American country. “The purpose of this law is to legalize virtual assets as a means of payment and to accept them as currencies, thus providing security for the production of virtual […]